Reconciliation of Payment and Receipt dt 14.07.2014
OFFICE MEMORANDUM
Subject: Payment and Receipt
The necessity and importance of timely and effective reconciliation of accounts needs no emphasis. The Finance Department has repeatedly reiterated this requirement in the context of relevant rules and directions of the Provincial Government on the subject.
2. Notwithstanding the said efforts, the reconciliation of receipts and expenditure of the provincial departments leaves much to be desired. A periodic review by the Finance Department has again shown a dismal picture with regard to the majority of the departments.
3. It has been observed that in a large number of cases, reconciliation of receipts and expenditures by the Drawing and Disbursing Officers / Controlling Officers / Heads of Attached Departments with the concerned District Accounts Offices / Treasury Officers / Accountant General, Punjab is not being carried out in the manner prescribed under the Punjab Budget Manual, resulting into accumulation of huge amounts of un-reconciled receipts and expenditure.
4. This position has been viewed with concern and it has therefore, been decided to request you to immediately issue appropriate instructions to all your subordinate offices, emphasizing the necessity and importance of carrying out month to month reconciliation of all payment and receipt figures under various heads without fail up to 15th of every following month. In case receipt and payment schedules are not being received, the issue may be reported to the Finance Department to appropriate action.
